https://www.taxtmi.com/caselaws?id=41563 Where an exemption notification makes excise duty depend on the value of goods, the statutory valuation method under Section 4 of the Central Excises and Salt Act applies to determine that value. The wholesale cash price must be adjusted in accordance with Section 4 and its Explanation, including deduction of trade discount and the duty element, so that footwear with an assessable value not exceeding Rs. 5 per pair falls within the exemption. On that construction, the footwear in question was exempt from duty, and duty already collected was refundable. en-us Thu, 25 Apr 1985 00:00:00 +0530 Thu, 31 Jul 2014 07:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=41563 Where an exemption notification makes excise duty depend on the value of goods, the statutory valuation method under Section 4 of the Central Excises and Salt Act applies to determine that value. The wholesale cash price must be adjusted in accordance with Section 4 and its Explanation, including deduction of trade discount and the duty element, so that footwear with an assessable value not exceeding Rs. 5 per pair falls within the exemption. On that construction, the footwear in question was exempt from duty, and duty already collected was refundable. Case-Laws Central Excise Thu, 25 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=41563